GammaCan International and Life Therapeutics Announce the Signing of a Term Sheet for the Development of VitiGam.KIRYAT ONO, Israel & ATLANTA -- GammaCan International (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : GCAN), and Life Therapeutics (ASX ASX See: Australian Stock Exchange : LFE LFE Low Frequency Effects LFE Lean Front End (software) LFE Laminar Flow Element LFE Learning From Experience LFE Large Final Emitter (environment) LFE Leicester, Forest, East ) today announced the signing of a Term Sheet for a collaboration to jointly develop VitiGam, an innovative anti-cancer product designed to target metastatic Metastatic The term used to describe a secondary cancer, or one that has spread from one area of the body to another. Mentioned in: Coagulation Disorders metastatic pertaining to or of the nature of a metastasis. malignant melanoma patients with Stage III and IV disease. Advanced stage melanoma represents a large unmet medical need - there are no safe and effective therapies available to patients today. Under the Terms the partners anticipate to share the costs and expenses relating to the development, supply, collection, manufacture, storage, and commercialization of VitiGam as well as their respective portion in any proceeds resulting of the collaboration. Life Therapeutics will also supply plasma to GammaCan for this project. Other terms of the agreement were not disclosed. "We are extremely pleased to be working with Life Therapeutics on the development of VitiGam for the US and Australian markets," said Patrick Schnegelsberg, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of GammaCan. "This brings GammaCan yet another step closer to the planned clinical trials of VitiGam to treat malignant melanoma - a cancer with a significant unmet medical need." Dr. Hari Nair, President and CEO of Life Therapeutics said, "We are pleased to be involved in this project and especially so because we are helping to develop a novel life saving therapeutic based on a 'hyperimmune' plasma." Once again this establishes Life Therapeutics as the pre-eminent supplier and developer of hyperimmune hyperimmune /hy·per·im·mune/ (hi?per-i-mun´) possessing very large quantities of specific antibodies in the serum. hyperimmune possessing very large quantities of specific antibodies in the serum. products. The application of hyperimmune technology to Vitiligo vitiligo or leukoderma Skin disorder manifested by smooth, white spots on various parts of the body. Though the pigment-making cells of the skin, or melanocytes, are structurally intact, they have lost the ability to synthesize the pigment. shows just how broad the applications of this technology are. Dr. Nair added that, "this project will be funded jointly by the partners through entities like the BIRD Foundation who recently approved a $1M Grant, subject certain condition, to both parties for the development of VitiGam." About VitiGam: VitiGam is GammaCan's second generation intravenous IgG-based product and a first-in-class anti-cancer immunotherapy. GammaCan plans on having VitiGam to enter phase I/II testing under a US IND in the near future after it recently held a pre-IND meeting with the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. . VitiGam is being designed to target metastatic melanoma patients with Stage III and IV melanoma. VitiGam is an IgG product that is different from standard IgGs: It is manufactured from the plasma of donors with vitiligo, a benign autoimmune skin condition affecting up to 2% of the general population. GammaCan scientists have shown that this "enriched" vitiligo IgG (VitiGam) contains potent anti-melanoma activity in both in vitro and mouse xenograft xenograft /xeno·graft/ (zen´o-graft) a graft of tissue transplanted between animals of different species; it may be concordant, melanoma models. Thus, GammaCan expects VitiGam to provide (1) anti-melanoma activity directed specifically against malignant melanoma cells and (2) non-specific anti-cancer activity - as is the case with IgG in general. About GammaCan: GammaCan is a biopharmaceutical company focused on clinical-phase development and commercialization. GammaCan's initial therapy under development is a first-in-class anti-cancer immunotherapy aimed at preventing metastasis metastasis /me·tas·ta·sis/ (me-tas´tah-sis) pl. metas´tases 1. transfer of disease from one organ or part of the body to another not directly connected with it, due either to transfer of pathogenic microorganisms or to (the spread of cancer to other parts of the body) of a variety of cancers. GammaCan's first generation product (GCAN101) is currently completing phase II - clinical trials. About Life Therapeutics: Life Therapeutics is an international company headquartered in Atlanta, Georgia that specializes in niche therapeutic hyperimmune products. It has 14 plasma collection centers around the US and has considerable experience recruiting and collecting hard to find hyperimmune plasma for IND studies and clinical trials. It recently established its U.S. American Depositary Receipt American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. (ADR ADR - Astra Digital Radio ) Level I program which enables trading in Life Therapeutics shares by U.S. based investors and is an important step toward the company's ultimate objective of achieving a full listing on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on stock exchange. For more information, visit the companies' websites: www.GammaCan.com and www.life-therapeutics.com. Safe Harbor Statement: Statements in this document that are not purely historical are forward-looking statements. Forward-looking statements in this release include statements regarding the commercialization of an anti-cancer immunotherapy and the Company developing the boosting of cancer patients' immune systems with IVIg into an effective treatment. Actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the planned development of the technology, unforeseen technical difficulties in developing the technology, the inability to obtain regulatory approval for human use, competitors' therapies proving more effective, cheaper or otherwise preferable for consumers, inability to market the product we produce, among other factors, all of which could among other things, delay or prevent product release or cause our company to fail. For further risk factors see the risk factors associated with other early state medical research and development companies filed with the SEC on Edgar. |
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